Attention first-time home buyers, this is really big news! The President has signed into effect an economic recovery act measure that provides an up-to $7500 tax credit for qualified first-time home buyers. I don't know a lot about the details yet but I will be attending a seminar on Tuesday, August 19th to learn about this very important incentive. While like 99.87% of American, I'm tax illiterate (another great reason to be married to a CPA besides his good looks), my understanding of the tax credit is that it is the same as hard cash to the home buyer at the time that taxes are filed.
Check in with me after 3 p.m. on Tuesday, when I'm an expert!!!
Also, I understand this is retroactive for first-time home purchases after April 2008 and runs through purchases in 2009.
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